Lookers confirms 650 roles at risk in wake of Alpha takeover

Lookers has confirmed it is expecting to make around 10% of its staff redundant with around 650 roles at risk across the business, following the takeover of Alpha and delisting from the stock market.

The group had initially confirmed to AM that around 3% of its 6,500 staff would be affected, but has now said the number of roles affected will increase following a "detailed review".

Lookers has transitioned to private ownership, following a £504 million deal by Canadian firm Alpha Auto Group in October.

A spokesperson for Lookers told AM this morning: "Last week, Lookers confirmed that a certain number of corporate and support roles that relate to its status as a listed company may be affected by a proposed programme now that the business is no longer listed on the London Stock Exchange. 

“We have now completed a detailed review of our business and operations in order to keep the business efficient and ensure we have a manageable cost base. Unfortunately, a number of roles have been identified across our operations that are now at risk of redundancy.”

Lookers also confirmed 100 of the roles at risk of redundancy would be within its Charles Hurst business in Northern Ireland.

The group's CEO Mark Raban is is set to exit the automotive retail giant on December 31.

In a leaked memo, Raban, who has been with the business for nearly five years, expressed gratitude to his colleagues and highlighted the significant accomplishments achieved during his tenure.